Epic Research Special Stock Market Report 15 September 2017

Global markets at a glance
Rising shares of Boeing pulled the Dow Jones Industrial Average up to a record high on Thursday, while the S&P 500 fell as investors saw higher-than-expected inflation increasing the chances of an interest rate hike.The Dow’s third consecutive all-time high was driven in part by Boeing, which rose 1.36 percent after Deutsche Bank raised its price target on the aerospace and defence stock.
After the bell, S&P emini futures slid 0.27 percent after North Korea fired a missile over Japan, deepening a crisis after Pyongyang on Sept 3 tested its strongest nuclear bomb to date.During the session, the S&P 500 and Nasdaq fell after a Labor Department report showed consumer prices rose more than expected in August, boosting the odds of another interest rate hike this year.

MACRO NEW
HDFC Mutual Fund will revise the performance bench-mark for HDFC Floating Rate Income Fund – long term plan with effect from September 15, a notice from the fund house stated. Subsequently, the open-ended in-
come scheme will be benchmarked against CRISIL Short Term Bond Fund Index as against CRISIL Liquid Fund Index at present.
The Reserve Bank is likely to hold the key rate in the monetary policy review next month following a jump in inflation and is expected to focus more on resolving the problem of bad loans in the banking system.There was an uptick in headline inflation in August driven by implementation of the House Rent Allowance (7th Pay Commission) hike and accordingly the RBI is expected to keep rates on hold.

STOCKS IN NEWS
BPCL to invest Rs 1.08 lakh crore in 5 years to expand business operations
Hindalco looks to export alumina from Odisha unit
Cadila Healthcare gets tentative US FDA nod for Solifenacin Succinate tablets (used to treat overactive bladders)

COMMODITY ROUNDUP
The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 53.83 per barrel (bbl) on 13.09.2017. This was higher than the price of US$ 53.06 per bbl on previous publishing day of
12.09.2017. In rupee terms, the price of Indian Basket in- creased to Rs. 3443.89 per bbl on 13.09.2017 as compared to Rs. 3392.90 per bbl on 12.09.2017. Rupee closed weaker at Rs. 63.98 per US$ on 13.09.2017 as compared to Rs. 63.95 per US$ on 12.09.2017.

TRADING STRATEGY:
BUY GOLD OCT ABOVE 30000 TGT 30050 30150 SL BELOW 29900
SELL GOLD OCT BELOW 29850 TGT 29800 29700 SL ABOVE 29950

CURRENCY MARKET UPDATE
The dollar consolidated gains on Thursday, a day after posting its biggest single-day rise in six weeks as markets looked forward to U.S. inflation data that will determine the near term trading outlook for the struggling greenback.
With short bets against the dollar stuck near record highs despite this week’s rally, any upside inflation surprise might trigger a broad-based pull-back in positioning. The U.S. core consumer price index is expected to have risen 1.6 percent on an annual basis in August, which would be the lowest since early 2015, versus 1.7 percent in July. ECONUS.

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